Alissa Coram and Mike Webster walk through Friday’s market action and discuss key stocks to watch in Stock Market Today.<br>Learn more about your ad choices. Visit megaphone.fm/adchoices

How To Handle ‘Tale Of Two Markets’ As Nasdaq Weakens; Eli Lilly, Snowflake, Sphere In Focus

Stock Market Today With IBD

# Full Transcript

**Podcast:** Stock Market Today With IBD

## Participants

- **Alissa Coram** (Investor's Business Daily)
- **Mike Webster** (Investor's Business Daily)

## Transcript

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Tell Congress Stop The Durban Marshall Money Grab For Corporate Megastores. Paid For By The Electronic Payments Coalition. Good afternoon, everyone, and welcome to Stock Market Today for Friday, June 26th.

It's Alissa Coram here. And more red on the screens, but a look underneath the surface tells a little bit of a different story. We will get into the tale of two markets that we are seeing unfold right now with the Nasdaq at a critical juncture. Joining me now to break down the action and how to handle it, how to interpret it, is my colleague, Mike Webster, IBD Senior Market Strategist. Webby, how are you doing today?

Hey, it's nice to be here with you, Alissa. It feels like a million years ago that we did this last, but I think it was only a couple weeks. I know. We missed you on the Friday, SMT. So it's great to have you back. Yeah, nice to be here. It's been a tricky market, man. What did you do to the market while I was away? I know, I know. It has been so tricky. So more important than ever to get your guidance. So I'm looking forward to that.

We've got a lot to get to. So let's get started with a look at the major indexes. I will share my screen and show market surge. We have quite a few down days here in a row. Just focusing in on the Friday action, we'll of course zoom out. But on the day, the Nasdaq down a quarter of a percent. The S&P 500 was just fractionally lower on the day. So coming off lows there quite a bit. So that is interesting to see.

I think that's a bad low on SPY. I don't think it got that low. OK, well, then my thank you for immediately calling that out. This chart is slightly delayed, but a little bit better of a look there. More accurate. We did close off lows, but not as dramatic as that ETF chart there. Thanks for that, Webby. Meanwhile, the Dow down about a little bit on the day. I'm seeing different numbers, different places here.

And then the Russell 2000, we'll take a quick look at that IWM ETF down about three tenths of a percent on the day. Let's also add into here the Nasdaq 100 QQQ down about 1.4 percent or so I'm seeing. And then RSP, I know we like taking a look at that too. That was up on the day. So this tale of two markets, Webby, tell me more about what you are seeing out there and the levels that you're watching.

Yeah. So we're in this weird spot, right, where we have this long power trend. It looks like it's, you...

How To Handle ‘Tale Of Two Markets’ As Nasdaq Weakens; Eli Lilly, Snowflake, Sphere In Focus

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

How To Handle ‘Tale Of Two Markets’ As Nasdaq Weakens; Eli Lilly, Snowflake, Sphere In Focus

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.